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Gravity: Reclassifying a Fund

How to Adjust Fund Balances and Reclasses

  1. One of your funds has been reclassed, and you need to show migration according to GASB 100. You will need to show the fund in its new position with the appropriate amount and a ghost column of the fund in its old position. This guide will teach you how to achieve this in Gravity.
  2. To begin reclassifying a fund, enter the MDFM. Then go to Administration and click on "Dimensions".
  1. Click the pencil icon beside the funds type that you are reclassing a fund.
  1. Expand the funds. Then click on "Major" or "Nonmajor" funds, depending on how your fund is being reclassed.
  1. Click "Add".
  1. Type in the name of the reclassed fund and a code that corresponds to the "Major " of "Nonmajor" fund codes. Then click save.

Write down the code that you have created.

  1. Click "No".
  1. Enter your report and go to the Administration folder.
  2. In the Administration folder, you will find a document entitled "Fund Mapping". 
  3. After you have completed this, reupload your trial balance using Data Integration Services.
  4. After we have reloaded your trial balance, enter the MDFM, go back to relevant statement's hypercube and click "Adjustments".
  1. If presented with the option, click "ADJUST BY GL".

  1. In total, you will have to make four entries in the adjustments panel to accurately report the reclassification of your fund.
    Entry #1: 

Debit to new fund beginning balance: In Gravity, this would be "Adjustment", "[Unassigned] Fund balances, beginning", "Reclassed Fund," "Fiscal Year".

Credit eliminate entry: "Adjustment","[Unassigned] Reclasses", "Fund being Reclassed", "Fiscal Year".


 

Entry #2: 

Debit eliminate entry: "Adjustment", "[Unassigned] Reclasses", "Fund being Reclassed, "Fiscal Year".

Credit to old fund balance: "Adjustment", "[Unassigned] Fund balances, beginning", "Fund being Reclassed", "Fiscal Year".

  1. To validate your reclassification entries, the totals should be zero between these two rows between the new reclassed fund and a nonzero number in the  ghost fund column.


 



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